Street View: Strong growth ahead for India's Bharti Airtel

Indus Towers

06/08/2024 06:02

** Shares of India's no.2 telecoms operator by subscribers,
Bharti Airtel  BRTI.NS , topped Q1 profit estimates on Monday
    
    IN-LINE PERFORMANCE, STRONG GROWTH AHEAD
    ** Jefferies ("buy", hikes TP to 1,760 rupees): growth
outlook steady; expect co to deliver 16% CAGR in India core
profit over FY25-27 assuming a 10% tariff hike in Q2FY27 
    ** Morgan Stanley ("equal-weight", TP 1,330 rupees): Strong
India performance led by cost control, better ARPU; "like"
sequential decrease in net debt 
    ** Macquarie ("neutral", TP 1,280 rupees): Expect earnings
growth to improve with tariff hike realisations, prefer co over
Reliance's  RELI.NS  Jio and Indus Towers  INUS.NS  in the
sector
    ** CLSA ("outperform", TP 1,540 rupees): Believe tariff
hikes, rising mobile data penetration and 5G subscribers should
drive "strong growth"  

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))